Together achieves lending record of £115m of bridging loans in a single month
Specialist lender Together today announced it lent more than £115 million of short-term finance in a single month across its commercial business – a record in its 49-year history and an 8.5% increase on its previous record of £106m, set in May last year.
Total group lending in March topped £256m in a single month, across its commercial and personal finance business, highlighting Together’s strong contribution to both its customers and the UK property market.
Together – one of the UK’s leading specialist lenders with a group-wide loan book of over £6bn – originated new lending across its entire product range, of bridging loans, buy-to-let, commercial mortgages, development finance and its consumer lending products, across the first and second charge market.
Marc Goldberg, Commercial CEO, said:
“We are proud today to announce record lending in March for our bridging loan offering, highlighting that there is a huge demand from businesses across the UK for specialist short-term finance to meet their ambitions.
These latest lending figures mark an incredibly important milestone for us, and one which we couldn’t have achieved without the amazing dedication and support of our colleagues, who have all played their part in the success, enabling us to deliver to both our business partners and our customers.”
He said the “outstanding” performance was due to the speed and service we provide, together with the knowledge and experience of the group’s 750 employees, and “focusing on the right customer outcomes” to deliver finance in clients’ timeframes, with “common sense at the heart of everything we do”.
Strong relationships with its business partners and through the support of its solicitor panel, enabled the business to offer a best in class customer journey, and a unique offering in the market.
It has invested in increased automation across its back office functions, to improve the business’s processes, and streamlined its underwriting teams, a key factor in driving Together’s lending success.
Mr Goldberg said:
“Providing access to finance for companies and investors is crucial for the country’s future prospects.
Hopefully in the next few months we will begin to see the green shoots of recovery start to grow after what has been a tough winter.
As a well-capitalised business, we’re in a very strong position to help more customers, as the UK continues its economic recovery.”